In years gone by retirement was something that folks really looked forward to, relatively stress-free, but today it can be a very different story. For starters, individuals retiring in today’s economy are held much more responsible for their retirement income than say our grandparents and great-grandparents were. Companies simply do not offer the same kind of retirement packages they did decades ago. So the burden of preparing for retirement lays almost entirely on the shoulders of the individual. So, what are some ways that you can boost your retirement efforts? Looking for ways to save for retirement tax-free is your first step. 

Roth IRA

A Roth IRA account is a great starter account for most people. I say most people because there are income caps on who can contribute to this type of account. There are also caps on how much you can contribute each year. Currently, it is $5,500 per year if you are under 50 years old and $6,500 if you are older than 50. This is an important type of retirement savings because the money goes in tax-free and most importantly, it comes out tax-free as well. 

Roth 401(k)

If your plan allows it, then this is a great additional type of retirement account. The great thing about a Roth 401(k) is that it allows a much larger annual contribution than the Roth IRA. Currently the contribution amount is $18,500 if you are under 50, and it allows for $6,000 catch up if you are over 50. 

Working with A CTA

One of the best ways to get your retirement on track is to speak with a CTA. These professionals can help you identify ways to save tax-free for retirement. If you would like to speak to someone about this service, please contact our friendly staff at Martin Insurance Team serving Evergreen Park, IL. 

With all of the health insurance plans out there, it’s not always easy to determine which plan is best for your individual needs. The Martin Insurance Team serves residents of Evergreen Park, IL and can help you make this important decision involving your health. Here are three tips for figuring out the insurance plan you should select.

Take a Look at the Benefits

Read the fine print so that you can make an informed decision and chose a plan that’s a good fit for you and your family. Some plans have better coverage for different aspects of care, such as when you’re traveling abroad, for specific pharmaceuticals or for mental health issues. Talking with someone in person is also beneficial to help you understand the various plans you’re considering.

Look at Your Healthcare Spending Patterns

Consider how much you spend each year on healthcare. Do you typically reach your deductible? If you didn’t by a wide margin and you predict a similar scenario for the upcoming year, you should consider a plan with a deductible that’s even higher, which means your premium will likely be lower. 

If the opposite is true and you met or exceeded your deductible — or if you will have upcoming medical costs, such as for a planned surgery or if you’ve been diagnosed with a disease such as diabetes — then consider opting for a plan with a lower deductible and higher premiums.

Avoid Unnecessary Out-of-Pocket Costs

This may seem obvious, but make sure your primary doctor accepts your insurance plan. Otherwise, you may have to switch doctors or pay out-of-network rates, which won’t be wallet-friendly. You may want to call to double-check if your doctor is in-network for the plan you’re considering to make sure you have updated information.

You can learn more about the type of health insurance plan that’s right for you by contacting the Martin Insurance Team, serving Evergreen Park, IL. Don’t hesitate to get in touch with us today!

Disability insurance is not something that many people know about. For some, however, it is essential and is a great thing to have. For those workers that feel they may need disability insurance, the helpful agents at Martin Insurance Team in the Evergreen Park, IL area can help you to find the right disability policy for you.

So what is disability insurance? This insurance takes the place of a disability payment should the worker become injured. This policy is going to help pay wages for the injured worker should they become injured and not able to work. This helps prevent the need to go through the process of applying for disability through your work or through your local government.

So who needs this type of insurance? Workers that are at risk to become injured at work, workers that have a job site that is not likely to pay out disability payments, or for those workers that do not want to deal with the hassle of filing for temporary disability, this might be the right solution for you. You can take our policies with a wide range of coverage to help you pay your bills while you are injured based on what your current pay is and based on what amount of money you need to be able to pay your bills each month.

You should note however that this type of insurance is still going to require that you prove you are disabled and show what happened as well as doctors notes to prove that you have been hurt. This is going to help to make sure that you get the right payout and that your policy is going to help pay the bills.

For those that live in the Evergreen Park, IL area, the agents with Martin Insurance Team can help you determine if you need a disability policy and what amount of coverage you need to be safe and secure.  

Riding on the open road. The wind in your face. No doubt about it a motorcycle is just cool. However, there is a lot more to motorcycle ownership than just looking cool as your ride down the road. Understanding the risks and responsibilities of bike ownership is crucial to making the most of your bike. 

Safety

it is the reasonability of the owner of the bike to know how to operate the bike safely. Driving a motorcycle is nothing like driving a car. Just because you can drive a car does not mean you will be great at driving a bike. In order to learn the best safety practices when driving your bike, it would be in your best interest to take a motorcycle safety course. This will give you the chance to learn everything you need to know from a professional. 

Risks

If you choose to own and drive a motorcycle then you should also understand the risks involved with that ownership. There are an entirely different set of risks involved in driving a motorcycle than there are in driving a car. Never assume you know everything. Learning about the risks involved is the best way to avoid those risks. You should understand the dangers of driving in certain types of weather as well as in certain types of areas. You should also learn how to interact appropriately with the motorists around you on the road. 

If you have recently purchased a motorcycle or are considering purchasing one, take the time to find a quality motorcycle safety course or driving course in your area. Learning how to drive and operate your new bike from a professional will go a long way in preventing problems in the future. If you would like to learn more about bike ownership and bike insurance contact Martin Insurance Team serving Evergreen Park, IL. 

Thinking about what would happen if you pass unexpectedly and leave your family is almost unbearable. Thinking about what would happen if you passed and didn’t plan anything to leave for your family is even worse. This is a very hard topic to think about, but that’s exactly why you do need to think about life insurance. Serving Evergreen Park, IL, Martin Insurance Team is here for you during all of life’s milestones, good and bad. If you plan for the worst, you might be able to make it just a little more bearable. Following are just some of the risks you take if you forego life insurance.

The most apparent risk of going without life insurance is not leaving anything to provide for your family, especially if you are the main income earner for your household. However, another monetary aspect people don’t often think about is their debt. When you die, your debt doesn’t just magically go away. Without life insurance, you risk passing your debt on to your loved ones.

If you don’t have life insurance now, you also risk paying more later. Generally, the younger and healthier you are, the lower your premiums are going to be. If you wait until you’re older and potentially develop health conditions, you’re going to end up paying more. The benefits of having life insurance are much more than just leaving money for your loved ones, so the sooner you take out a policy, the sooner you can enjoy those benefits.  

Martin Insurance Team is here to help anyone in Evergreen Park, IL and the surrounding area plan for the future with life insurance; get in touch with us today!

While hosting guests in your living space, their safety should be a priority. Home accidents can be fatal and often result in huge medical bills. Also, your guests will be more comfortable if they feel safe in your living space.  As such, it is vital to take some considered measures to guarantee their safety and comfort.  Here are some useful tips to keep guests safe in your Evergreen Park, IL home:-

Ensure toy safety
If some of your guests have children, ensure that they are playing with toys of the recommended ages. In most cases, this will be mentioned on the label. Toys and their parts pose a serious health hazard especially if they are too small to fit into the child’s mouth as the child could choke on it. Dispose of broken toys or repair them. If a broken toy has a harp edge, it could harm the children as they are playing. 

Observe food safety measures
Food-related ailments are quite popular. Washing your hands thoroughly before, during and after preparing food for your guests reduces the chances of bacterial contamination. Refrigerate any leftovers within two hours after preparing it as leaving it out too long could lead to contamination. 

Insure your home
In as much as you have observed every safety measure in the group, accidents still do happen. Having your home insured will ensure that you are covered for any medical bills should guests get injured within your property. Further, should they sue you for such an incident, the insurance company will compensate you. Any damaged property is also covered under a home insurance policy. A home insurance coverage also has a liability coverage option that pays to represent you in court if you are sued after an accident. 

The Martin Insurance Team is ready to discuss your Evergreen Park, IL home insurance requirements and options. Get in touch with us today for a free estimate of your home insurance policy. 
 

If you own a business in Evergreen Park, IL, one of the essential insurance coverages you need to get is disability insurance. This policy pays part or all of the employee’s salary if the employee has become disabled or isn’t capable of doing their job after work-related injuries or illnesses.

In most cases, disabilities come from on the job injuries or accidents, including other debilitating illnesses like a heart attack or cancer. The coverage can pay disabled workers the income they lose as they recover from an injury or disease. At Martin Insurance Team, we can provide disability insurance designed to suit your business needs.

Reasons to get a disability insurance plan

Unlike the social security disability that protects employees after attaining a certain age and restricted at a maximum monthly payout no matter what the worker’s income was, a private disability insurance covers approximately 70% of an employee’s salary at any age in case a disability arises.

This coverage can cover workers through their companies, but most employees have limited coverage or no coverage at all. Such people can get private disability insurance in order to protect their earnings and provide for the family should an illness or an injury occur at work and prevent them from working.

Types of disability insurance

Private disability is a type of disability insurance that comes in the form of a long-term or short-term disability insurance package. A short-term policy usually covers the disabling illness or injuries for up to 6 months while a long-term one covers the worker’s salary throughout their lifetime if necessary. Some insurers also offer additional options and protections like guaranteed renewal, cost of living adjustment, and refunding of certain premium payments in case an employee doesn’t become disabled within a stated time.

For more details on your disability insurance options in Evergreen Park, IL, contact Martin Insurance Team today.

At Martin Insurance Team in Evergreen Park, IL we typically advise our clients to have motorcycle insurance in place, even when it is not required. Damage can happen to your bike and there are many situations when repair or even replacement are necessary. In addition to coverage for the bike itself, we are often asked about policies that include coverage for any injuries that could befall your passenger. In most situations, we find that having coverage in place for your passengers can provide you with the peace of mind that comes with knowing that you are protected in the event of a mishap.

Comprehensive Coverage for Your Motorcycle Passengers

When you take a passenger with you for a ride on the back of your motorcycle, you can be held liable for them in certain instances. By having a comprehensive policy that includes your passengers, you are protecting both them and yourself. Mishaps can happen when riding on a bike, and medical attention may be required in many situations. If you are looking for a policy that covers you in the event of injury as well as your passengers, we can help. Motorcycle insurance should cover your bike and any damage that it receives, but in many cases, this type of base insurance policy is not enough. Do not leave yourself open to liability issues if you are involved in an accident that harms your passenger. There are a number of policy options available for you to review with our agents.

Call or Stop By Today to Learn More About Your Coverage Options 

Comprehensive coverage for motorcycle enthusiasts is always worth discussing. Call the Martin Insurance Team today to learn more about your motorcycle policy options for your passengers here in Evergreen Park, IL.

When most of us think about estate planning the things that come to mind are wills, living trusts, estate taxes, and so forth. However, life insurance can be a very important part of estate planning. One of the main advantages of life insurance is that the proceeds received by the beneficiaries are usually not taxable. Taxes can be avoided except under special circumstances, such as when a beneficiary is not named or the life insurance proceeds are specifically allocated to the estate for a particular purpose.

Another possible benefit of having life insurance in estate planning is, when the estate is structured properly, the beneficiaries can receive insurance proceeds immediately and directly, avoiding probate, and these proceeds are not available to pay off the creditors of the deceased.

Your agent at the Martin Insurance Team, serving Evergreen Park, IL and the surrounding areas, is ready to explain the myriad of ways that life insurance is a valuable tool in estate planning and wealth management.

Life insurance proceeds serve many valuable and desirable functions in estate planning. The proceeds can support beneficiaries, cover the cost of sending heirs to school, be allocated to help pay for estate taxes, and provide funding for sudden death buy/sell agreements in businesses partially owned by the deceased. Life insurance proceeds can also be allocated to charitable efforts and for the funding of private foundations to leave a legacy. There are so many ways life insurance plays an important role in estate planning.

Conclusion

Estate planning is becoming an important consideration for more Americans as many are now becoming older adults. Talk to your attorney in order to understand the legal ramifications of using life insurance in estate planning and wealth management. Consult with your agent at Martin Insurance Team in Evergreen Park, IL to get professional advice about the life insurance that meets your needs and goals.

Motorcycles are fairly popular in Illinois, with over 300,000 people owning them in the Garden State according to the Department of Transportation. So if you live in Evergreen Park, IL or surrounding areas, you may already be well used to seeing them. But since Illinois tends to have stricter driving laws than other states in general, just how old does one have to be to ride a motorcycle? Martin Insurance Team has the answer. 

The Basic Requirements

Technically speaking, a person has to be at least 17 years old age in order to legally ride a motorcycle in Illinois. That said, those who are under the age of 18 will need a parent or legal guardian’s signed consent to apply for a motorcycle permit. A successful vision test, proof of residency, $5 fee and successful passing of the written motorcycle knowledge test is required for everyone to get a motorcycle permit, also referred to as a "learner’s permit". Those under the age of 18 are also required to enroll in a basic rider course. When it comes to getting an actual motorcycle license, those under 21 will have to hold their permit for at least six months before taking and passing a road test. For those over 21, the holding period is three months. 

What if I’m From Out of State and Already Have a Motorcycle License?

Since age laws for riding motorcycles vary by state, it is very possible that you could be new to the Evergreen Park, IL area (or the state in general) and have a license from a different state despite being underage in Illinois. In this case, you can simply transfer the license credentials by visiting the Illinois Motor Vehicle Commission within 60 days of moving (or before your license expires, whichever comes sooner) and pay the applicable fees. Please feel free to contact Martin Insurance Team to learn more.